The Builders & the Buyers

Helen and Tom orally agree to sell their house to Ben and Nina for £450,000. They shake hands and Ben pays a £10,000 holding deposit by bank transfer. Helen and Tom then discover another buyer willing to pay £480,000 and attempt to withdraw, returning the deposit. Ben and Nina have already incurred £3,500 in survey costs and given notice to their landlord. The estate agent had told Ben and Nina that planning permission had been granted for an extension — this was false and the agent knew it.